STATE CHARTERED BANKS, BANK AND TRUST COMPANIES, AND SAVINGS BANKS

The Department of Banking and Securities has issued a Deputy Secretary’s letter regarding AOCI op-out election on your institution’s March 31, 2015, Call Report. An institution that is not an advanced approaches institution must choose to either opt out or not opt out of the requirement to include most components of AOCI in common equity tier 1 capital. The election is irrevocable. Please review the Deputy Secretary’s letter [here, PDF] for important information.